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Best practice vendor risk management in today’s interconnected world

Author

Listed:
  • Beale, Ian

    (Gartner, UK)

Abstract

This paper explains why vendor/third-party risk is so important to all organisations, as well as the principal risks that organisations must consider. It describes the responsibility of management to manage these risks with support from risk experts at the selection phase and through the ongoing relationship. Different sources of information about the management of the key risks and alternative ways of collecting the data are evaluated. The paper concludes by discussing how both customer and supplier organisations benefit from a balanced approach to risk management. The approach described in the paper applies to organisations of all types and sizes and can be applied to varied supply chains. The data and insights are based on research conducted by CEB.

Suggested Citation

  • Beale, Ian, 2017. "Best practice vendor risk management in today’s interconnected world," Journal of Business Continuity & Emergency Planning, Henry Stewart Publications, vol. 11(2), pages 151-162, December.
    • Handle: RePEc:aza:jbcep0:y:2017:v:11:i:2:p:151-162
    as

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    More about this item

    Keywords

    supplier risk management; vendor risk management; third-party risks;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation

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